Showing posts with label property construction. Show all posts
Showing posts with label property construction. Show all posts

What are the Key Stages in Construction of a House?

Author: Sachin Gupta | Find me on Twitter

There are 2 ways in which one can own a house. One, by buying it from the real estate developer in a group housing project, and the second option is by buying a plot of land and constructing it in your own way by adhering to building guidelines.

There are pros and cons of both the options.

When you buy the house directly from builder, you do not have to worry about land acquisition, approvals, construction, architects, contractors, etc. However, builder of the housing project may take upward of 4-5 years to hand over the housing unit to you. There is all the likelihood that you may not like the final product and therefore you might end up spending decent amount of money on renovation of your house. There could be other issues such as not finding the apartment on your desired floor, or an apartment with good view and access to sunlight, etc. As far as payment is concerned, you will be making it as per the construction linked plan and that is a big positive.

On the other hand, if you decide to build your own house, then, you take charge of all the things such as buying the plot, obtaining necessary approvals, dealing with architects & contractors, construction, and finishing. The whole process of building your own house may take about 1 year or more depending on the size of the house you wish to build. However, there will not be any compromise on quality. One important point you should take into consideration is that building your own house will be costly than buying it from the developer. Moreover, you should be prepared to shell out significant portion of the value of the property in 2-3 months time period. Also, you may not get benefits of group housing project such as gym, club, pool, playground, etc.

Having assessed the pros and cons of both the options and then deciding to develop your own house, you should stick to following construction stages in the development of your house.

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